Using Big Data to Drive Restaurant Innovation
In the restaurant industry, machine learning is poised to deliver innovative advances at every point in the supply chain.
For every potential application of Big Data in the restaurant industry, there are stories of brands putting them into practice. Quick-service chains are using facial recognition and data collection to make personalized recommendations for their customers. Table service restaurants are preparing for dinner service based on an analysis of lunchtime ordering. Even fast-casual eateries are basing long-term menu offerings on customer purchasing trends.
Industry analysts agree that technology will continue to change the way consumers and restaurants interact. Anil Kaul, writing in Restaurant Dive, reports that AI and machine learning can transform all aspects of restaurant operations:
But one of the chief advantages of using an AI solution is that the investment keeps paying off as it scales across the organization, delivering value not just in the marketing, account and sales side of the business but to product development, inventory, finance, etc. AI is like an interest-bearing account; the sooner it is put into action, the faster the value grows.
Speeding Up the Drive-Thru
Recently, McDonald’s made its largest acquisition since the 1990s, buying the data-driven personalization startup, Dynamic Yield. The quick-service chain expects the acquisition to enhance all aspects of their customer service experience with the addition of customer profiles and targeted recommendations. As Lana Bandoim wrote in Forbes:
For fast food restaurant visitors, the definition of value includes convenience. It is a smart choice for McDonald’s to utilize technology that augments the perceived value of convenience. In this case, it is a simplified and personalized drive-thru experience.
Thanks to Dynamic Yield’s technology, McDonald’s is able to differentiate itself from its competitors and offer something new that caters to evolving consumer demands, which commonly revolve around personalization, convenience and a streamlined purchase journey.
Improving the Experience
While the largest restaurant brands can leverage in-house digital solutions, no business has to be left out. The LMS team can provide data-driven solutions to provide restaurant brands with the technology needed to thrive in today’s marketplace. Call us at 800-257-5902 or email us today at [email protected] to find out more.